IT security – once the most closely-guarded IT function – could become the next candidate for offshoring. As the security market has evolved, more companies have outsourced functions like security monitoring and response. Tight corporate budgets and a skills shortage of suitably qualified security professionals have accelerated this trend. According to the Yankee Group, managed security services revenue is set to grow from $1.5bn in 2002 to $3.7bn in 2008. Maria Cirino, a SVP at VeriSign and head of its managed security service business, explained that the market started with mid-range companies outsourcing the management of their security infrastructures has now developed to embrace larger corporates. A swathe of corporate governance regulations, such as Basel II banking regulations and the US Sarbanes-Oxley Act on accounting, recently came into force. Cirino reckons outsourcing security helps companies to comply these regulations. Full Story
About OODA Analyst
OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.